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Thursday, February 14, 2013

Cold Chain Market worth $157,142.2 Million by 2017

The report “Cold Chain Market for Food Industry (With a focus on 3PL Service Providers) By Types (Storage & Transport), Product Types (Chilled & Frozen), Applications (Fruits & Vegetables, Bakery, Dairy & Sea Foods) & Geography: Global Trends & Forecasts to 2017” defines and segments the global cold chain market with analysis and forecasting of the global revenue for cold chain. It also identifies driving and restraining factors for the global cold chain market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented and revenue is forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW).

Global cold chain market revenue in 2011 was $75,565.0 million and is expected to reach $157,142.2 million by 2017, at a CAGR of 13.2% from 2012 to 2017. North America contributed 40% of the total cold chain market revenue and is expected to grow at a CAGR of 12.0% from 2012 to 2017. Europe contributed 30% of the global cold chain market revenue in 2011 and is expected to grow at a CAGR of 10.8% from 2012 to 2017. Asia-Pacific is expected to grow at the fastest CAGR of 17% from 2012 to 2017 contributing 22% of the total cold chain market.

The transportation of chilled and frozen foods has become a necessity in the modern world, with cold chain following rapid economic and political change. Chilled and frozen foods require the most efficient cold chain, not only in terms of technology and know-how, but also in terms of timely delivery, in order to respond rapidly to market needs. The process of frozen foods transport continued to improve because fruits and vegetables, and dairy products are to be transported to place of consumption from place of production. The demand for frozen food is increasing in many markets across the globe. The movement of manufacturers and retailers to emerging markets such as Asia-Pacific, and Latin America, as well as the changing tastes of consumers is having a positive affect on the cold chain industry.

Growth in organized retail and food processing sector drives the cold chain market across the globe. Weather conditions are one of the major concerns when it comes to frozen food logistics. Loading and unloading during extreme warm or cold conditions may also pose huge negative impact on the freshness of frozen foods. Political affairs amongst neighboring countries can also delay the delivery of perishables across the borders, which may in turn loose the freshness of food products. In such cases, transport routes should be carefully decided prior to exports.

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MarketsandMarkets (M&M) is a global market research and consulting company. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services.